Other news

The November drop in economic activity in China was noted even before the Chinese government abruptly abandoned its zero-tolerance COVID-19 policy. However, a new decline is possible as the infection spreads further.

The Federal Reserve's speech turned out to be much more aggressive than expected. In connection with this, there is a decrease in the prices of gold and silver on Thursday. There is still uncertainty in the precious metals market because of the likely increase in interest rates in the U.S.

The focus is on the interest rate decisions of the banks of England, Europe, Switzerland, Norway and Mexico, as well as the GDP of New Zealand, the trade balance of Japan and Norway, employment in Australia. And the list will be supplemented by natural gas reserves in the United States.

The Bank of England said on Tuesday that it would launch stress tests of investment funds and other financial institutions outside the banking sector next year. This move comes after the recent near-collapse of the UK pension sector.

According to Reuters, the European Central Bank expects inflation to remain above the 2% target over the next three years. This percentage is considered higher than the markets would currently expect. It means the bank's fight against rampant price increases is not over.

Germany’s federal government is planning to issue a record amount of debt in 2023. These measures are aimed at providing financial support to households and companies affected by the energy crisis.

The Swiss National Bank (SNB) will raise rates on Thursday. However, economists are divided on how aggressively officials will act to tame inflation. Most expect a hike of 0.5% to 1%.

After hitting a 41-year high in November, the rate of inflation has fallen. In this regard, the current rate suggests that the sharpest decline in living standards may be behind us.

Following a significant easing of COVID restrictions in China, road transport and air traffic in the world's second-largest oil-consuming country quickly recovered. This has significantly improved the outlook for fuel demand, and has also supported crude oil prices.

Gas producers warned about stopping investments in case of implementation of long-term price limits proposed by the government.